Consolidated Bank Ghana (CBG) has assured customers that the suspension of its foreign exchange licence will not impact its core banking services. In a statement, the bank stressed that all branches and digital platforms remain fully operational, encouraging customers to remain calm.
The Bank of Ghana (BoG) recently announced a one-month suspension of CBG’s forex licence, effective from 26 November, citing multiple breaches of foreign exchange market regulations. Despite the setback, CBG says it is actively engaging with the central bank in hopes of restoring the licence by the end of the suspension.
“This suspension does not affect CBG’s normal banking operations,” the bank said in a statement. “Aside from foreign exchange products and services, all our branches and digital platforms will continue to provide our full range of services. We are committed to restoring foreign exchange products after our discussions with the Bank of Ghana.”
CBG also apologized for any inconvenience the suspension may cause, reiterating its commitment to high operational standards. The BoG noted that the licence would be reinstated if CBG implements effective controls to ensure compliance with forex market regulations.
The central bank urged all forex market participants to adhere strictly to regulations and guidelines.
Source:TheDotNews